UK economy ‘flatlining’ as services sector records weakest growth since the aftermath of the EU referendum December 5, 2018 Business activity fell to its lowest rate of growth since the aftermath of the Brexit vote, according to a closely followed measure of services sector activity. The slowdown in both ongoing business and new work saw the UK services purchasing managers’ index (PMI) hit 50.4 last month, down from 52.2 in October to count as [...]
No-deal Brexit is ‘default option’ if May’s withdrawal agreement voted down, says Leadsom December 5, 2018 A no-deal Brexit would be the “default” outcome if parliament votes against the Prime Minister’s Brexit deal next week, according to the leader of the House of Commons. “Unless government were to do something completely different to change tack, or indeed to pass this deal, then we will be leaving the EU on 29 March [...]
Ryanair faces enforcement action after rejecting compensation claims for strike disruption to flights December 5, 2018 Ryanair faces enforcement action over its refusal to reimburse customers for strike disruption over summer, it emerged this morning. The Civil Aviation Authority (CAA) said it decided to act after the budget airline decided to terminate its relationship with a body designed to resolve customer complaints. Passengers whose flights were cancelled or delayed by industrial [...]
Patisserie Valerie appoints interim CFO as it seeks to steady the ship after accounting scandal December 5, 2018 Embattled cake shop Patisserie Valerie has appointed an interim CFO after its last one was suspended before quitting amid an accounting scandal surrounding a £40m black hole. Nick Perrin will serve in the role until the bakers can find a permanent successor to Chris Marsh, who resigned following investigations into possible fraud at the company. [...]
Rail fare hike: How much your 2019 commute will cost November 30, 2018 Train tickets are set grow even more expensive next year, with fares rising an average of 3.1 per cent in January. The price hike – following a year of frustration for London commuters – has been much criticised, especially as it is tied to the more expensive Retail Price Index, rather than the more commonly [...]
Rail fares will rise by 3.1 per cent in January despite timetable chaos hurting commuters November 30, 2018 Rail fares will rise by an average of 3.1 per cent in the new year, according to the Rail Delivery Group, hitting millions of commuters’ wallets. The increase means many passengers will pay around £100 more for their season tickets, despite a year in which travellers have suffered strikes, delays and timetable chaos on many [...]
Bottoms up: Greene King heralds heatwave as profits and revenue grow in World Cup year November 29, 2018 Shares in pub owner Greene King ticked up in early morning trading as investors welcomed growing like-for-like sales in its pubs across the UK after a sweltering summer saw drink sales swell. The figures Statutory profit before tax grew 3.2 per cent to £127.7m in the pub chain’s half-year results, compared to the same six [...]
MPs grill Prime Minister Theresa May over risk of no-deal Brexit November 29, 2018 Prime Minister Theresa May asked MPs to “focus on the choice that lies in front of them” this morning, declining to speculate on what would happen if her Brexit deal is voted down by parliament next month. May’s draft withdrawal agreement will be put to a parliamentary vote on 11 December, with the UK facing [...]
Unilever chief executive set to retire at the end of the year after shareholder revolt against plans to scrap dual-listed structure November 29, 2018 Unilever’s chief executive is set to step down at the end of the year, the company revealed today. Paul Polman will retire by the end of 2018, the maker of Dove soap and Marmite said, staying on to help with the transition as the company’s president of beauty and personal care, Alan Jope, takes up the [...]
John Whittaker-led consortium abandons £2.9bn offer for Intu, sending shares crashing November 29, 2018 Intu’s share price nosedived by 36 per cent this morning after a consortium ditched plans to pay £2.9bn for the shopping centre empire, blaming market uncertainty. Intu had repeatedly extended the deadline for the offer from a consortium led by billionaire shareholder John Whittaker, but today the consortium said it would abandon the takeover attempt. “Given the [...]
